Starting a Business in Australia: This is how you do it

 Starting your own business is a big dream for most people around the world. Imagine this: you start your own business, you are your own boss and the master of your own destiny who is pursuing success in something that you’re truly passionate about. What if you started your business in Australia? If you are moving to Australia to start a new business, you will need to apply for an Australian business visa. 

Choose your business structure


To start moving forward, you first need to decide on you business structure.  This will have a direct effect on things like the amount you need to pay, your level of control, your regulatory obligations, etc.

There are four common structures to consider for business in Australia:

  • Sole trader 

  • Partnership

  • Company

  • Trust


Select the business type


When you come to this category, there are many business types to select from, like online business, franchise, independent contractor etc. But regardless of your business type, you need to have a visa 888. Almost all the industries have their set of legal obligations and regulatory requirements, so do your homework and make you pick the best-suited business type that is required for your industries.


Apply for ABN


Until you own an Australian Business Number (ABN), you can’t legally start your business in Australia. The ABN is a unique 11 digit number that identifies your business. Only businesses and individuals that hold ABNs are permitted to conduct business in Australia.  This is because the ABN identifies you to the Australian Government as being subject to a different stream of tax laws.  When you  apply for your ABN, the government will check your 888 visa if you are from another country. Once you gain your ABN, you will be able to register your business name and start your activities.


Register your business name


Now you have an ABN, you can register your business name with the Australian Securities and Investment Commission (ASIC). Once your business name is registered on ASIC, no other company in Australia can register the same, or similar, name for their business.


Register your domain name


You’re now ready to apply for your domain name! If you intend to have a website for your business, you need to select a great domain name. The domain should ideally be related to your business and at the same time, it should be easy for prospective customers to find, recognise and remember.


Identify your funding source


Cash flow will be the primary concern when you start up a new business. Though you have the best business plan, you need to have money! There are many government grants that can help you to start your business. Read both the federal websites, and the websites of the state you are planning to come to for business grants that might suit you.


Business time


If you are from another country and you want to start business and investment activities in Australia, you need to obtain an Australian investment visa. A valid visa is the ticket to your journey to business in other countries. So what are you waiting for?

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